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Dec 21, 2012 3:00pm EST
on the eastern coast. it could shut down the trading facilities from boston down to houston and that could put a real dent. so this speaks to me about uncertainty. >> you're talking about these uncertainties and you can't be blinded by the fiscal cliff, the uncertainties that were missing before. if you look at the internals of the market, you saw this week industries and discretionaries and sectors making 52-week highs. >> i would look at the other side of the technicals there, j.c. that chart is bearish to me. there have been nine since 1998. some very significant declines after the cross. and the s&p won't follow through. in addition, the index just put in the death cross, as well. so i think the risk on trade is going to be coming to an end. maybe again it's a topping process over the next couple of months. but to buy here for 3% to 5% i think is a mistake in the light of possibly having a 10% to 20% decline in the new year. >> here, we've been up 25 of those 30 times and that's 82%. i'll take those numbers in vegas any day. >> yeah, but again, if you're looking at a near term trade, i wou
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